Amen Properties Reports Results for First Quarter of 2019 and Announces Dividend

DALLAS–(BUSINESS WIRE)–Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial
results for its fiscal quarter ended March 31, 2019. The Company posted
quarterly revenue of $860 thousand and net income of $687 thousand.
These results compare to revenue of $1.9 million and net income of $1.6
million for the same quarter last year. The decrease in Company revenue
and earnings versus last year was caused primarily by declines in
production and commodity prices.

Amen also announced that the Company’s Board of Directors has approved
the payment of a quarterly dividend of $20 per share, to be paid on June
28, 2019 to shareholders of record as of June 21, 2019.

Finally, Amen reiterated that its Board has approved a plan whereby the
Company will no longer hedge the revenue stream associated with its oil
and gas royalties. “Shareholders of Amen need to understand that they
hold an un-hedged long oil and gas position and should pursue their own
hedging strategy if they are uncomfortable with that risk,” said Kris
Oliver, Amen’s Chief Financial Officer.

The Company’s 2019 first quarter report is available for viewing or
download from the company’s web site – www.amenproperties.com.

Cautionary Statement:

This document contains forward-looking statements, which involve a
number of risks and uncertainties that could cause our actual results to
differ materially from those reflected in the forward-looking
statements. Forward-looking statements can be identified by use of the
words “expect,” “project,” “may,” “might,” potential,” and similar
terms. AMEN Properties, Inc. (“Amen”, “we” or the “Company”) cautions
readers that any forward-looking information is not a guarantee of
future performance and that actual results could differ materially from
those contained in the forward-looking information. Forward-looking
statements involve a number of risks, uncertainties or other factors
beyond Amen’s control. These factors include, but are not limited to,
our ability to implement our strategic initiatives, economic, political
and market conditions and price fluctuations, government and industry
regulation, U.S. and global competition and other factors. We undertake
no obligation to update any forward-looking statement, whether as a
result of new information, future events or otherwise.

Contacts

Kris Oliver
(972) 999-0494